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Title links lead to book details on the IFoA Library catalogue. From there, IFoA members and students can 'Request' the book from the IFoA Library Service, subject to availability. Members can also follow the ‘Access eBook’ links below after logging in through the member portal. Access articles after member login to the IFoA eLibrary using the Actuarial Knowledge Hub and following DOI links shown below.
SA3 core reading for the current year is the key study reference for this exam and is available from the IFoA e-shop.
Students may also work with study guides and course materials for this exam from an IFoA recognised tuition provider.
Suggested additional reading for Subject SA3 General Insurance Advanced
Students may find it useful to consult some of the suggested reading listed within the 'Solving Problems' section of the SA3 Core Reading to obtain a wider appreciation or different viewpoint when studying a particular topic.
However, students are not expected to have read all of the items on the list or to have gained detailed knowledge of any particular topic additional to that contained in the core reading. Equally, students may use other sources of information to enhance their wider understanding, such as:
- The financial press and weekend supplements
- The Actuary Magazine
- bulletins and other publications from reinsurers and consultancies
- Publications and websites of reinsurers and actuarial consultancies
- Papers from the Institute and Faculty of Actuaries and the Staple Inn Actuarial Society (SIAS)
- Future IFoA events and webinars found on the IFoA event calendar
- Past general insurance-related presentations made at IFoA events, including session and webinar recordings, which can be found on the IFoA's Virtual Learning Environment (VLE)
- GI-related presentations made at conferences that sit within other practice areas (e.g. Sustainability).
Actuarial Standards
The Institute and Faculty of Actuaries is responsible for the setting of ethical actuarial standards. The Financial Reporting Council (FRC) is responsible for the setting of technical actuarial standards.
- Technical actuarial standards can be found on the FRC's website
- Other professional guidance material can be found on the IFoA website within the Regulatory communications and consultations area.
Articles
- A change agenda for reserving. Report of the General Insurance Reserving Issues Taskforce (GRIT). Jones, T.; Copeman, P.J; Gibson, E.R, et al. British Actuarial Journal (2006) 12(3): 435-619. (DOI https://doi.org/10.1017/S135732170000461X
- Distribution-free calculation of the standard effort of chain ladder reserve estimates. Mack, T.ASTIN Bulletin (1993) 23(2): 213-225. DOI https://doi.org/10.2143/AST.23.2.2005092
- Economic scenario generators and Solvency II; a discussion paper. Varnell, E.M. British Actuarial Journal (2011) 16(1): 121-159. DOI https://doi.org/10.1017/S1357321711000079
- Loss reserves in the London Market. Maher, G. P. M. British Actuarial Journal (1995) 1(4): 689-760. DOI:https://doi.org/10.1017/S1357321700001288
- Reserving and uncertainty. A meta-study of the General Insurance Reserving Issues Task Force and Reserving Oversight Committee research in this area between 2004 and 2009. Gibson, E.R. et al. British Actuarial Journal (2011) 16(1): 63-80.
DOI https://doi.org/10.1017/S1357321711000067 - Solvency II Technical Provisions for General Insurers. Dreksler, Susan. (chair) et al. General Insurance Reserving Oversight Committee’s Working Party. Paper presented to Institute and Faculty of Actuaries, 2013. (Paper awarded Brian Hey Prize.)
- Stochastic claims reserving in general insurance.England, P.; Verrall, R.J. British Actuarial Journal (2002) 8(3): 443-544. DOI https://doi.org/10.1017/S1357321700003809
Other monographs including guidance
- Look for the latest guidance on www.lloyds.com
- Non-modelled risks: a guide to more complete catastrophe risk assessment for (re) insurers. Association of British Insurers, 2014.
- A practitioner's introduction to stochastic reserving: the one-year view. Scarth, R.; Jain, S.; Cerchiara, R.R.; IFoA Pragmatic Stochastic Reserving Working Party. Institute and Faculty of Actuaries, 2020.
Reference sources (references for SA3 Core Reading)
- Actuarial Association of Europe – Solvency II
- European Union. Directive of the European Parliament and of the Council on the taking up and the pursuit of the business of insurance and reinsurance. 2009/138/EC (the 'Solvency II' Directive).
- Financial Conduct Authority – FCA’s approach to supervision
- Financial Conduct Authority – Insurance Conduct of Business Sourcebook (ICOBS)
- Institute and Faculty of Actuaries – Practising Certificates
- Prudential Regulation Authority – Solvency II
- Prudential Regulation Authority : Letters to Chief Actuaries and Chief Risk Officers, including more recently:
o Letter to Chief Risk Officers of General Insurance companies regulated in the UK: 'Insights from PRA review work on reserving and exposure management', PRA, 13 November 2020.
o Letter to Chief Actuaries of General Insurance companies regulated in the UK: 'Feedback from recent PRA reserving reviews', PRA, 5 November 2019.
Use PRA page Search to select 'Insurance', 'Insurance policy' and 'Letter' to find letters related to the Actuarial Function and to General Insurance firms.
Books (also respectively referenced in IFoA Core Reading for subjects SP7 and SP8; these are not examinable).
- Claims reserving in general insurance. Hindley, D.J. Cambridge University Press, 2017. ISBN 9781139924696.
Access eBook after member login- Open source ‘R’ code relating to the Appendix: https://github.com/djhindley/shiny-server/tree/master/claimsreserving
- Please read Notice and disclaimer about use of this material intended solely as a learning aid.
- Pricing in general insurance. Parodi, P. 2nd edition. Chapman & Hall/CRC Press, 202023. ISBN: 9781000860832.
Access eBook after member login- Library also offers earlier 1st edition, 2014. Access eBook after member login
- The author also releases accompanying material for the book: www.pricingingeneralinsurance.net